Woburn, Mass (September 24, 2019) - Magnolia Optical Technologies, Inc. announced today that its India subsidiary MagnoliaSemi Systems Pvt. Ltd. has been awarded the Phase II technology development contract for GaAs based advanced quantum structured solar cell by Department of Space, Government of India. This cutting-edge technology development will include design refinements of advanced quantum structured solar cell with advanced light trapping structure, followed by epitaxial growth, device processing, detailed epitaxial characterization and device testing for efficiencies approaching 30%. The technology will be transferred to the Semi-Conductor Laboratory of the Department of Space under a license granted by the US Department of Commerce. This program will require Magnolia to surpass prevalent technology barriers and achieve optimized quantum structured epitaxial GaAs based solar cell for high efficiencies approaching 30%. Magnolia's nanostructured device designs will seek to maximize the open circuit voltage by minimizing both non-radiative and radiative components of the diode dark current, resulting in extended infrared absorption and enhancing photovoltaic device performance.